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State surpasses $1 billion in college savings assets.

Byline: Journal Record Staff

OKLAHOMA CITY College savers in Oklahoma reached a milestone at the end of 2017 eclipsing the $1 billion mark in savings for the first time. The accomplishment was announced Thursday by officials with the Oklahoma 529 College Savings Plan, Oklahomas direct-sold college savings plan, and OklahomaDream 529, the states adviser-sold plan. After end of a year-end holiday gifting marketing campaign, the Oklahoma 529 College Savings Plan achieved $50.7 million in assets on Dec. 29, while the OklahomaDream 529 achieved $149.5 million in assets. We want Oklahoma families to achieve the dream of a college education for their children and grandchildren, and we want to help our young college graduates not be saddled with crippling student loan debt, said state Treasurer Ken Miller, board chairman of the OCSP. Plans like the OCSP and OklahomaDream are common-sense ways for Oklahoma families to save for college. The OCSP is Oklahomas direct-sold 529 college savings plan. It is designed for families who want to direct their own 529 college savings accounts. The plan is managed by TIAA-CREF Tuition Financing Inc. OklahomaDream is offered through financial advisers and is managed by Allianz Global Investors. These two plans are even more attractive to Oklahomans because both provide tax advantages, including the availability of an Oklahoma state income tax deduction, Miller said.

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Publication:Journal Record (Oklahoma City, OK)
Geographic Code:1U7OK
Date:Jan 18, 2018
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